Hyderabad: Union minister Mukhtar Abbas Naqvi today lambasted some political parties and “champions of corruption” and said the NDA government is moving forward to make India an economic power despite their “diversionary tactic”.
His remarks come amid the criticism of the government over its alleged poor handling of economy.
The minority affairs minister said India’s growth rate has remained above seven per cent in the last three years of the NDA government and the country has become “one of the safest and strongest” destinations for investment, according to a statement released by his office.
“Despite diversionary tactic by some political parties and champions of corruption, the government is moving forward to make India an economic power of the world,” the statement quoted him as saying at an event here, without naming any party or individual.
Addressing a ‘Pradhan Mantri Mudra Yojana’ promotion camp here, Naqvi said the Centre’s demonetisation decision, heavily criticised by opposition, has “started giving results”.
“Direct benefit transfer has (also) ensured transparency, as money has been given directly into the bank accounts of needy,” he added.
Lauding the government further, the minister added the Centre has approved loans for 9.13 crore borrowers under the Mudra Yojana, launched over two years ago.
He said women constitute 76 per cent of the total beneficiaries of the programme. More than 55 per cent of the borrowers belong to communities such as SC/ST/OBCs and minorities, the minister said.
Naqvi explained to the attendees — local residents, traders, representatives from industries and social sector — the Mudra Yojana and also various other schemes such as the Start Up India Stand Up India.
The government set up the Micro Units Development & Refinance Agency (Mudra) Ltd. to fund non-corporate, non-farm sector income generating activities of micro and small enterprises whose credit needs are below Rs 10 lakh.
Under the scheme, loan is being given to units according to their stages of growth: upto Rs 50,000; from Rs 50,000 to Rs 5 lakh; and between Rs 5 lakh and Rs 10 lakh in ‘Shishu’, ‘Kishor’ and ‘Tarun’ categories respectively.